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      September 22, 2017

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  1. Quicken Loans
  2. The Easy Loan Site
  3. Rate Marketplace
  4. Mortgage Srch 123
  5. Lower My Bills

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The Basics of Refinancing Your Home Mortgage

What to Know Before Refinance Your Home Mortgage

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Mortgage Refinance Better Business Bureau Reliability Seal

Best Mortgage Refinance Companies

When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

Continue reading below reviews

2017

Mortgage Refinance Reviews

5 stars
Lending Tree

LENDINGTREETopConsumerReviews.com Best-In-Class Blue Ribbon Award

In business since 1996, LendingTree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make LendingTree stand ahead of their competition. Read More... Visit
Site

4 stars
Quicken Loans

QUICKEN LOANS

Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans.
Read More... Visit
Site

3 stars
The Easy Loan Site

THE EASY LOAN SITE

The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit
Site

2 stars
Rate Marketplace

RATE MARKETPLACE

Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list.
Read More... Visit
Site

1.5 stars
Mortgage Search 123

MORTGAGE SEARCH 123

Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit
Site

1 star
Lower My Bills

LOWER MY BILLS

Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information.
Read More... Visit
Site

Continued from above

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for?

TopConsumerReviews.com has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.

 

Buying a house just got more expensive: Mortgage rates rise for first time in 7 weeks

What's more, the central bank plans to slowly reduce the its huge holdings of mortgage-related loans and that could put some upward pressure on rates over time. Read: Yellen says low inflation a "śmystery,' but not mysterious enough to keep rates low

Published:  Thu, 21 Sep 2017 08:17:00 GMT



The 7 Things You Need to Know Before Refinancing Your Mortgage

Mortgage rates remain historically low. In fact, rates are so low that a mortgage consumer with decent credit can land a 30-year-fixed mortgage with a rate of 4.0%, or even lower for consumers with excellent credit. Consequently, it's a good time for a ...

Published:  Wed, 13 Sep 2017 18:19:00 GMT



What You Should Know Before Refinancing a Mortgage

There are many good reasons to refinance a mortgage, but it's not right for everyone. Several key factors need to be considered to determine if refinancing is a viable way to meet financial goals. First, you need to determine your goals for refinancing ...

Published:  Wed, 13 Sep 2017 13:50:00 GMT



Fixed mortgage rates halt their downward march

The refinance index jumped 9 percent, while the purchase index grew 11 percent. The refinance share of mortgage activity accounted for 51 percent of all applications. "To illustrate the impact of the two major hurricanes, over the past two weeks ...

Published:  Wed, 13 Sep 2017 21:00:00 GMT



Starkey Mortgage rebrands as Certainty Home Loans

Plano, Texas-based Starkey Mortgage announced it is rebranding the company and changing its name to Certainty Home Loans, effective Oct. 2. The company opened its doors in 2000 and now offers home purchase, refinance, renovation and reverse mortgage loans ...

Published:  Fri, 15 Sep 2017 16:35:00 GMT



Member One Federal Credit Union | Auto & Home Loans

We have low rates for auto loans, home mortgage loans, home equity loans, and personal loans of all kinds. We have a credit card with low interest rates and all standard financial services such as checking, insurance options and saving accounts.

Published:  Thu, 21 Sep 2017 13:07:00 GMT



Leading Financial Website Refinance Mortgage Rates Launches Consumer Guides

Wilmington, DE - Leading online finance website www.refinancemortgagerates.org is delighted to announce the launch of their exclusive mortgage refinance consumer guides. The guides have been created to provide anyone considering refinancing their home a ...

Published:  Mon, 18 Sep 2017 20:04:00 GMT



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